L3Harris Technologies, Inc. (NYSE:LHX) Short Interest Update

L3Harris Technologies, Inc. (NYSE:LHX) was the recipient of a large increase in short interest in February. As of February 15th, there was short interest totalling 3,060,000 shares, an increase of 22.9% from the January 31st total of 2,490,000 shares. Approximately 1.6% of the shares of the stock are short sold. Based on an average trading volume of 1,190,000 shares, the short-interest ratio is presently 2.6 days.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock traded up $7.26 during trading on Friday, hitting $221.05. 853,867 shares of the company’s stock traded hands, compared to its average volume of 921,259. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. The stock has a market capitalization of $41.63 billion, a P/E ratio of 28.09, a PEG ratio of 2.42 and a beta of 0.74. The business has a 50-day simple moving average of $208.78 and a 200-day simple moving average of $227.73. L3Harris Technologies has a 1 year low of $193.09 and a 1 year high of $265.74.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. As a group, analysts forecast that L3Harris Technologies will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be issued a $1.20 dividend. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.17%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 60.99%.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $213.65, for a total value of $376,878.60. Following the sale, the insider now owns 6,812 shares of the company’s stock, valued at $1,455,383.80. This trade represents a 20.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 4,901 shares of company stock valued at $1,059,757 in the last 90 days. Corporate insiders own 0.87% of the company’s stock.

Institutional Trading of L3Harris Technologies

Several large investors have recently added to or reduced their stakes in LHX. Meeder Asset Management Inc. boosted its stake in shares of L3Harris Technologies by 234.3% during the 4th quarter. Meeder Asset Management Inc. now owns 117 shares of the company’s stock worth $25,000 after acquiring an additional 82 shares during the last quarter. Millstone Evans Group LLC bought a new position in L3Harris Technologies in the 4th quarter worth $26,000. Bradley & Co. Private Wealth Management LLC bought a new position in L3Harris Technologies in the 4th quarter worth $27,000. Roxbury Financial LLC bought a new stake in L3Harris Technologies during the fourth quarter valued at about $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC grew its holdings in L3Harris Technologies by 336.4% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company’s stock valued at $30,000 after purchasing an additional 111 shares during the period. 84.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on LHX shares. Sanford C. Bernstein raised L3Harris Technologies from a “market perform” rating to an “outperform” rating and lowered their price target for the company from $289.00 to $267.00 in a report on Wednesday, January 8th. Barclays reduced their price objective on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Raymond James lowered L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Citigroup reduced their price objective on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Finally, Wells Fargo & Company reduced their price objective on L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating on the stock in a research report on Friday. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average price target of $261.40.

L3Harris Technologies Company Profile

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.